King Luther Capital Management Corp Acquires 17,423 Shares of Intercontinental Exchange Inc. $ICE

King Luther Capital Management Corp grew its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,535 shares of the financial services provider’s stock after acquiring an additional 17,423 shares during the period. King Luther Capital Management Corp’s holdings in Intercontinental Exchange were worth $52,487,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Princeton Global Asset Management LLC bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth about $28,000. Westside Investment Management Inc. acquired a new stake in Intercontinental Exchange during the second quarter worth approximately $29,000. Private Wealth Management Group LLC boosted its holdings in shares of Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 66 shares during the period. Knuff & Co LLC grew its position in shares of Intercontinental Exchange by 73.3% in the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Finally, Gables Capital Management Inc. increased its stake in shares of Intercontinental Exchange by 100.0% during the second quarter. Gables Capital Management Inc. now owns 250 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of several recent research reports. Raymond James Financial restated a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Morgan Stanley set a $183.00 target price on Intercontinental Exchange and gave the stock an “equal weight” rating in a report on Tuesday, February 10th. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Piper Sandler restated an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Finally, UBS Group reaffirmed a “buy” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Buy” and a consensus price target of $195.40.

Intercontinental Exchange Trading Up 1.0%

Shares of ICE opened at $154.98 on Thursday. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. The business’s fifty day moving average is $164.94 and its 200-day moving average is $164.85. The firm has a market cap of $88.01 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 1.60 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $1.52 EPS. Equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. Intercontinental Exchange’s dividend payout ratio is 33.28%.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 5,345 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $156.67, for a total transaction of $837,401.15. Following the sale, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,221,150.80. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Benjamin Jackson sold 12,861 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the completion of the transaction, the president owned 165,692 shares of the company’s stock, valued at approximately $27,339,180. This trade represents a 7.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,228 shares of company stock valued at $4,603,953 over the last quarter. 1.00% of the stock is currently owned by insiders.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.